ITAT Delhi Confirms Deletion: ₹1.90 Cr Was a Loan Given, Not Accommodation Entry Received

ACIT Vs Tecxpert Software Pvt Ltd (ITAT Delhi)

In this Revenue appeal, AO reopened the assessment alleging that Assessee had received an accommodation entry of ₹1,90,00,000 from M/s MKD Constructions Pvt Ltd, based entirely on an Investigation Wing report branding MKD as a sham entity. AO treated the amount as unexplained money u/s 69. During reassessment, Assessee filed bank statements, audited financials, tax audit report & confirmations showing that the amount was not received, but actually advanced by Assessee to MKD as a short

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